Kospi’s losing streak hits fourth day on jitters

Shares extended their losses to a fourth day to fall to a two-month low Monday as investor sentiment was spooked by growing uncertainties, such as a trade row with Japan and the U.S. Federal Reserve’s rate-setting meeting this week. The won gained ground against the dollar.

The benchmark Kospi dropped 36.78 points, or 1.78 percent, to 2,029.48. Trading volume was high at 596 million shares worth 4.62 trillion won ($3.9 billion), with losers far outpacing winners 798 to 74.

The index marked the lowest level since May 29, when the comparable figure was 2,023.32 points.

Investors remained concerned over the possible exclusion of Korea from Japan’s so-called “white-list” of trusted importers. The Japanese cabinet is widely expected to deliver a final decision on the move Friday, potentially affecting some 1,000 industrial items.

Japan already curbed exports of three industrial materials vital to the semiconductor and display industries of Korea.

“Investors are also locking in a recent rally in chip-making stocks,” said Seo Sang-young, a researcher at Kiwoom Securities.